Articles

In today’s world of a globalized economy and ubiquitous digital transactions, businesses are hungry for ways to increase transaction efficiency and security. In the real economy, solutions that scale to fit transaction volume or velocity are equally valuable. This is true for clearing and settlement and for the day-to-day needs of buyers and sellers alike. Clever observers of both cash and digital transactions can spot cases where technology that supports transaction security or safety can strengthen consumer-borrower ties, mitigate default risks, and reduce recidivism. In general, a cloud solution for payment processing and merchant services solves two major barriers to optimum business technology: lack of scalability and lack of security [1]. The extension of current practice has its advantages, but new solutions unlock significant opportunities for both consumers and financial institutions [2]. The focus of this work is on the provisioning of cloud-based payment processing and merchant services to financial institutions and established global organizations, although the options available with these services mean they are potentially applicable to a wide range of group entities, including non-trading organizations, pension administrators, and group treasurers. With the increased attention to cybersecurity, a mass of data is available to assist the IT departments of the major payment processors, merchants, and acquirers to get cybersecurity on the radar of C-level executives [3]. The case is put forward for the increased targeting of and reporting to the Board’s Audit, Risk, and Liability Committees of publicly held payment processors and merchants to reduce fraud losses and mitigate the reputation and class action lawsuit risk due to data breaches. The progress of technology in the payment sector requires all stakeholders to have a collective approach in order to mitigate fraud and cybersecurity-related risks in new products and services to enhance consumer confidence and the proportion of retail cashless transactions [4].

This work details how the integration of cloud computing and advanced data engineering can innovate and reshape patient care and digital infrastructure. In the healthcare sector, cloud services offer the necessary support to generate digitally-oriented services and service kits. These services can contain high levels of availability, low levels of latency, and on-demand scaling capabilities, while following the strictest data protection laws and regulations. On the other hand, these services can be combined with data engineering techniques to construct an ecosystem that enhances and adds an optimized data layer on any cloud environment. This ecosystem includes technologies to acquire, process, and manage healthcare data while respecting all regulatory obligations and institutions and can be part of a comprehensive digitalization strategy. The objective is to augment the healthcare services that the industry offers by leveraging healthcare data and AI technologies. Designed services, processes, and technologies can be described either as industry-agnostic services or healthcare-specific services that process and manage electronic healthcare records (EHR). Industry-agnostic services offer a set of tools and methodologies to conduct optimized data experiments. The goal is to exploit any variety, velocity, volume, and veracity of medical data. Healthcare-specific services offer a set of tools and methodologies to connect to any common EHR vendor in a privacy-preserving manner. Participating companies are thus able to hold, share, and make use of healthcare data in real-time. The proposed architecture can be transformative for the healthcare industry, opening up and facilitating experimentation on new and scalable service models. The transition to a more digital health approach would help overcome the limits encountered in traditional settings. Limitations in the availability of healthcare facilities and healthcare professionals have underpinned the increasing share of telemedicine in the care process. However, the record-keeping of the patients that undergo care outside of traditional healthcare facilities is often missing and can severely influence the continuity of treatment. Identifying new methods to implement disease prevention and early intervention processes is crucial to avoid more extensive treatment and to support those on multiple line therapies. For chronic patients, having a service available that monitors the state of health and intervenes when parameters go off the wanted range is crucial. However, the same patients are the most under the influence of the decision of care providers; a second opinion might be given remotely which the patient can access at any time on-demand. To address these different kinds of services, an ecosystem composed of a dictionary's worth data layer is outlined, able to live and operate seamlessly in any cloud environment. This future work's envisioned outcome is the rapid evolution and re-definition of the European healthcare landscape.